IRIS AG extends scope of financial risk management platform with RCS operational risk coverage tool

PRLog (Press Release) - Sep 07, 2006 -
Zurich, September 7, 2006 -- IRIS integrated risk management ag, a leading Swiss-based provider of enterprise-wide risk management solutions, announced today the enhancement of its riskpro™ financial analysis platform with two product of RCS: the RCS OpRisk Suite for the active management of operational risk and INTECRA™, a web-based rating engine.

The RCS OpRisk Suite enables financial institutions to proactively manage operational risks at every level of the enterprise and to comply with the proposed New Capital Accord (Basel II) and other regulations such as Sarbanes-Oxley. It has been proven a success in many national or international institutions such as Commerzbank, DaimlerChrysler Financial Services, Several Swiss Cantonal Banks, State Bank of Liechtenstein, etc. Its dynamic structure enables the system to facilitate the changing rule and criteria along with the ever-changing and more sophisticated financial world.

RCS OpRisk Suite and the INTECRA™ rating engine can be seamlessly integrated to the riskpro™ financial analysis infrastructure to cover all financial and operational risk dimensions of financial analysis. The two components will be offered and implemented by IRIS and its Business Partners as part of the overall riskpro™ analysis offering or as stand alone.

IRIS AG (www.iris.ch), founded in 1992 in Zurich, continuously develops, maintains and supports its riskpro™ financial analysis infrastructure. Selling, implementation and consulting are executed worldwide by IRIS AG and in cooperation with a number of regional partners such as Accenture, ATOS, Bazy I Systemy Bankowe (Poland), d-fine (Germany), Intracom (Greece), Inventrix (Malaysia), etc.

riskpro™ enables financial organizations to measure and monitor risk and profitability enterprise-wide with a single cost effective unified analysis infrastructure. riskpro™ is currently being used or implemented in over 200 small to large financial organizations in 16 countries.

RCS Riskmanagement Concepts Systems (www.risksys.com), founded in 1999, is an independent privately held company incorporated in Switzerland. RCS develops and markets standard solutions for operational risk management, credit risk counterparty rating and insurance risk evaluation.

RCS has its headquarters in Zurich, Switzerland, which is also the exclusive software production location. RCS has sales representatives in Germany, Austria, Spain and Asia (Thailand).

RCS OpRisk Suite is an innovative tool that provides an enterprise-wide view of operational risk. RCS OpRisk Suite was developed based on the belief that operational problems should be identified before they become realized losses. With the early recognition of potential corporate risks specific activities can be defined to mitigate the identified risk in order to reduce related losses and respectively save costs. Its modules cover the application management, self assessment, Loss tracking, Indicator rating, action tracking, OpRisk reporting, quantification.

INTECRA™ is a web based rating engine for the individual assessment of credit risk. INTECRA™ explicitly offers the possibility to integrate various existing risk assessment approaches (e.g. Score-Cards, MDA-functions, etc.) with newer techniques (e.g. Fuzzy-logic, etc.) in order to achieve a more accurate assessment of credit risk. The web-based standard system is based on a very flexible system structure (Java technology) and can be incorporated as a rating service module within any existing credit application process.

For information, contact:
Lidia Suligoj
Marketing and Sales Coordinator
IRIS AG
+41 (0)44 388 59 59
iris.info@iris.ch
www.iris.ch

Dr. Hans-Peter Güllich
CEO
RCS Riskmanagement concepts systems
+41(0)44 445 29 00
hpguellich@risksys.com
www.risksys.com